Hennessy Advisors Inc. Invests $8.14 Million in CNO Financial Group, Inc. $CNO

Key Points

• Hennessy Advisors Inc. invested approximately $8.14 million in CNO Financial Group by purchasing 211,000 shares in the second quarter.
• Analysts have rated CNO Financial Group with a consensus of "Moderate Buy", with an average price target of $43.40.
• CNO Financial Group declared a quarterly dividend of $0.17 per share, resulting in an annual yield of 1.7%.

Hennessy Advisors Inc. purchased a new position in shares of CNO Financial Group, Inc. (NYSE:CNO - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 211,000 shares of the financial services provider's stock, valued at approximately $8,140,000. Hennessy Advisors Inc. owned approximately 0.21% of CNO Financial Group at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in CNO. Nuveen LLC acquired a new stake in shares of CNO Financial Group during the first quarter worth approximately $24,071,000. American Century Companies Inc. grew its position in shares of CNO Financial Group by 9.3% during the first quarter. American Century Companies Inc. now owns 2,938,034 shares of the financial services provider's stock worth $122,369,000 after buying an additional 250,173 shares in the last quarter. Clark Capital Management Group Inc. acquired a new stake in shares of CNO Financial Group during the first quarter worth approximately $4,975,000. GAMMA Investing LLC grew its position in shares of CNO Financial Group by 5,105.8% during the first quarter. GAMMA Investing LLC now owns 119,161 shares of the financial services provider's stock worth $4,963,000 after buying an additional 116,872 shares in the last quarter. Finally, Candriam S.C.A. bought a new position in CNO Financial Group during the first quarter worth $4,563,000. Institutional investors and hedge funds own 95.43% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CNO shares. Weiss Ratings restated a "buy (b)" rating on shares of CNO Financial Group in a research note on Saturday, September 27th. Wall Street Zen upgraded CNO Financial Group from a "hold" rating to a "buy" rating in a research note on Friday. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $43.40.

Insiders Place Their Bets

In related news, insider Michael E. Mead sold 12,581 shares of CNO Financial Group stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $37.97, for a total value of $477,700.57. Following the transaction, the insider owned 15,729 shares of the company's stock, valued at approximately $597,230.13. This trade represents a 44.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.00% of the company's stock.

CNO Financial Group Price Performance

Shares of CNO opened at $39.56 on Friday. The firm has a market capitalization of $3.83 billion, a price-to-earnings ratio of 14.60 and a beta of 0.90. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.17 and a current ratio of 0.17. CNO Financial Group, Inc. has a one year low of $33.85 and a one year high of $43.20. The stock's fifty day moving average is $38.59 and its 200-day moving average is $38.39.

CNO Financial Group (NYSE:CNO - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The financial services provider reported $0.87 EPS for the quarter, beating analysts' consensus estimates of $0.85 by $0.02. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $971.25 million. CNO Financial Group had a return on equity of 16.63% and a net margin of 6.41%.During the same period last year, the company earned $1.06 earnings per share. Equities analysts anticipate that CNO Financial Group, Inc. will post 3.83 EPS for the current year.

CNO Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 24th. Investors of record on Wednesday, September 10th were paid a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, September 10th. This represents a $0.68 dividend on an annualized basis and a yield of 1.7%. CNO Financial Group's dividend payout ratio (DPR) is currently 25.09%.

CNO Financial Group Company Profile

CNO Financial Group, Inc, through its subsidiaries, develops, markets, and administers health insurance, annuity, individual life insurance, insurance products, and financial services for senior and middle-income markets in the United States. It offers Medicare supplement, supplemental health, and long-term care insurance policies; life insurance; and annuities, as well as Medicare advantage plans to individuals through phone, online, mail, and face-to-face.

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